Endeavour Silver (NYSE:EXK) Downgraded by Zacks Research to "Strong Sell"

Key Points

• Endeavour Silver has been downgraded by Zacks Research from a "hold" rating to a "strong sell" rating, signaling concerns about the company's performance.
• Despite the downgrade, several analysts maintain a generally positive outlook with a consensus rating of "Buy" and a price target averaging $8.33.
• The company reported a loss of ($0.03) earnings per share for the last quarter, falling short of expectations, despite revenues of $85.30 million exceeding forecasts.

Endeavour Silver (NYSE:EXK - Get Free Report) TSE: EDR was downgraded by equities research analysts at Zacks Research from a "hold" rating to a "strong sell" rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

EXK has been the subject of several other research reports. HC Wainwright raised their price target on Endeavour Silver from $7.25 to $8.75 and gave the stock a "buy" rating in a research report on Wednesday, July 9th. Wall Street Zen raised Endeavour Silver from a "sell" rating to a "hold" rating in a research report on Sunday, August 17th. CIBC raised their price target on Endeavour Silver from $7.25 to $10.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 15th. National Bank Financial raised Endeavour Silver to a "strong-buy" rating in a research report on Thursday, June 12th. Finally, National Bankshares restated an "outperform" rating on shares of Endeavour Silver in a report on Wednesday, July 16th. Three research analysts have rated the stock with a Strong Buy rating, four have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Endeavour Silver currently has an average rating of "Buy" and a consensus price target of $8.33.

Endeavour Silver Stock Performance

Endeavour Silver stock opened at $7.41 on Tuesday. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.65 and a current ratio of 0.93. The stock has a fifty day moving average of $5.88 and a two-hundred day moving average of $4.79. The company has a market capitalization of $2.16 billion, a price-to-earnings ratio of -27.43 and a beta of 1.30. Endeavour Silver has a fifty-two week low of $2.95 and a fifty-two week high of $8.21.

Endeavour Silver (NYSE:EXK - Get Free Report) TSE: EDR last released its quarterly earnings results on Wednesday, August 13th. The mining company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.04). The company had revenue of $85.30 million for the quarter, compared to analysts' expectations of $81.48 million. Endeavour Silver had a negative return on equity of 0.62% and a negative net margin of 28.49%. On average, analysts anticipate that Endeavour Silver will post -0.07 EPS for the current fiscal year.

Institutional Investors Weigh In On Endeavour Silver

A number of institutional investors have recently added to or reduced their stakes in EXK. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Endeavour Silver by 19.2% during the second quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 7,896,829 shares of the mining company's stock valued at $38,852,000 after acquiring an additional 1,274,094 shares during the period. Invesco Ltd. grew its position in Endeavour Silver by 56.0% during the first quarter. Invesco Ltd. now owns 3,301,752 shares of the mining company's stock valued at $14,098,000 after acquiring an additional 1,185,100 shares during the period. Bastion Asset Management Inc. purchased a new stake in Endeavour Silver during the second quarter valued at about $5,621,000. Azarias Capital Management L.P. purchased a new stake in Endeavour Silver during the second quarter valued at about $5,606,000. Finally, Mackenzie Financial Corp grew its position in Endeavour Silver by 995.2% during the fourth quarter. Mackenzie Financial Corp now owns 1,180,945 shares of the mining company's stock valued at $4,325,000 after acquiring an additional 1,073,114 shares during the period. Hedge funds and other institutional investors own 20.06% of the company's stock.

About Endeavour Silver

Endeavour Silver Corp., a silver mining company, engages in the acquisition, exploration, development, extraction, processing, refining, and reclamation of mineral properties in Chile and the United States. It explores for gold and silver deposits, and precious metals. The company was formerly known as Endeavour Gold Corp.

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